Zynga bookings beat estimates as turnaround takes hold

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(Reuters) - Zynga Inc on Wednesday forecast quarterly bookings above analysts’ estimates after beating expectations for the fourth quarter, suggesting that the game developer was benefiting from its mobile push.

FILE PHOTO - The Zynga logo is pictured at the company's headquarters in San Francisco, California April 23, 2014. REUTERS/Robert Galbraith/File Photo

The company had once thrived on the popularity of its Facebook-based “Farmville” game, but hit a rough patch after gamers ditched their desktops for mobile phones.

As part of its mobile-focused strategy, Zynga has snapped up several smaller game makers including Gram Games and the card and board games studio of Peak Games.

“We are no longer looking at fixing things, we are now focused on growing things,” Chief Executive Officer Frank Gibeau told Reuters.